About FINTRAC publications

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has prepared a number of industry-specific information sheets that are designed to provide reporting entities with relevant information needed to file a report. This includes information on record keeping, requirements of identification, measures that must be taken to determine whether an individual is acting on behalf of a third party, and what must be included in a compliance regime. (Download and review all of FINTRAC's publications.)

About mortgage loan fraud

According to the US Financial Crimes Enforcement Network (FinCEN), Remarks of Director Freis before the Mortgage Bankers Association of America, mortgage fraud is "an insidious crime that has robbed many homeowners of not just the roof over their head, but often of their savings and their security. What draws many of you here today is to guard against instances when mortgage fraud is perpetrated for profit; such criminal profit is meant to be at the expense of you and the institutions you represent. Mortgage fraud is also tied to other serious crimes: identity theft, money laundering and others. But together we must fight this crime by using all the tools at our disposal and by coordinating our activities with law enforcement." (Read the report on Mortgage Loan Fraud Connections with Other Financial Crime.)

FinCEN Releases 15th Issue of The SAR Activity Review – Trends, Tips & Issues

The United States Financial Crimes Enforcement Network (FinCEN) has published Issue 15 of The SAR Activity Review – Trends, Tips & Issues (May 2009). The SAR Activity Review Index is now available on the FinCEN website. Topics are indexed alphabetically by subject matter. The Archive of Law Enforcement Cases published in The SAR Activity Review can also be accessed through the website.

FINTRAC presentation on April 20, 2009

On April 20, 2009, Jeanne M. Flemming, Director of Canada's Financial Transactions and Reports Analysis Centre (FINTRAC) gave a presentation at the third annual managing internal and regulatory investigations conference held at the Osgoode Hall Law School in Toronto. She stated that money laundering has consequences for Canadian society because it allows criminal activity to expand and continue. As the criminals gain resources and power, the institutions of Canadian society - those that preserve law, order and good government - can suffer. We all have a stake in upholding the system's integrity and ensuring that dirty money stays out. (Read the Notes for the Presentation.)

FATF Report on Vulnerabilities of Casinos and Gaming Sector

The vulnerability of casinos was recognised in the revision of the FATF 40 Recommendations, with obligations on casinos being significantly enhanced. A recent report issued by the Financial Action Task Force (FATF) identifies current regional or global money laundering and terrorist financing threats on casinos and gaming. (Read the Vulnerabilities of Casinos and Gaming Sector Report.)

FinCEN Transfers All MSB Information to FinCEN.gov

The United States Financial Crimes Enforcement Network (FinCEN) has transferred all resources for money services businesses (MSBs) to the "financial institutions" section of its website. MSBs now will find all Bank Secrecy Act (BSA) information related to their industry in one place on www.fincen.gov. This change consolidates information for all industries subject to BSA reporting and recordkeeping requirements to a single website, and furthers FinCEN’s efforts to carry out its administration of the BSA in the most efficient and effective manner possible.

FINTRAC develops e-learning module on terrorist financing

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has developed an e-learning module that focuses on terrorist financing. By using this new product, reporting entities with obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act may be able to enhance their internal money laundering and terrorist financing risk assessment processes and facilitate employee training, both of which are essential elements of a compliance regime. (Access the Terrorist Financing E-learning Module.)